Norden Group LLC Invests $307,000 in Organon & Co. (NYSE:OGN)

Norden Group LLC purchased a new stake in Organon & Co. (NYSE:OGN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 20,560 shares of the company’s stock, valued at approximately $307,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Commerce Bank increased its stake in shares of Organon & Co. by 5.5% during the 3rd quarter. Commerce Bank now owns 12,168 shares of the company’s stock worth $233,000 after purchasing an additional 637 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Organon & Co. by 32.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock worth $41,000 after purchasing an additional 672 shares in the last quarter. Graypoint LLC increased its position in Organon & Co. by 6.2% during the third quarter. Graypoint LLC now owns 14,555 shares of the company’s stock worth $278,000 after buying an additional 853 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Organon & Co. by 4.9% during the fourth quarter. CIBC Asset Management Inc now owns 25,523 shares of the company’s stock valued at $381,000 after buying an additional 1,184 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators raised its holdings in Organon & Co. by 24.3% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 6,256 shares of the company’s stock valued at $93,000 after buying an additional 1,222 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Analyst Upgrades and Downgrades

OGN has been the topic of a number of recent analyst reports. Barclays cut their price objective on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. TD Cowen upgraded shares of Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Finally, Morgan Stanley decreased their price objective on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $20.80.

Organon & Co. Trading Down 0.4 %

Shares of NYSE OGN opened at $14.30 on Wednesday. Organon & Co. has a 1-year low of $13.87 and a 1-year high of $23.10. The company has a 50-day moving average of $15.42 and a two-hundred day moving average of $17.01. The company has a market cap of $3.68 billion, a PE ratio of 4.29, a P/E/G ratio of 0.90 and a beta of 0.76. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.57 billion. As a group, equities analysts expect that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Monday, February 24th will be given a dividend of $0.28 per share. The ex-dividend date is Monday, February 24th. This represents a $1.12 annualized dividend and a dividend yield of 7.83%. Organon & Co.’s payout ratio is currently 33.63%.

About Organon & Co.

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women’s health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.